Arbitrum has joined Global Dollar Network, the stablecoin alliance led by Paxos, according to CoinDesk. The move brings Paxos-issued USDG to Arbitrum, where the token went live on Tuesday. The integration is aimed at trading, lending, and payments, with initial participants including Fluid, Morpho, GMX, Maple, Li.Fi, Gauntlet, Steakhouse, LayerZero, and Kraken. Uniswap and Fhenix are set to connect later.
USDG is backed by U.S. dollar reserves on a 1:1 basis and has more than $3 billion in circulation across networks. Global Dollar Network has more than 150 partners, including Robinhood, Kraken, Mastercard, and OKX. Its model distributes reserve-generated revenue from USDG to partners that help drive adoption, instead of leaving that income solely with the issuer.
CoinDesk said Arbitrum currently has about $3.8 billion in stablecoins on its network, with roughly 60% in Circle’s USDC. Before USDG, Arbitrum did not have a direct way to share in reserve revenue tied to those tokens. Brendan Ma, head of investment strategy at the Arbitrum Foundation, said USDG gives Arbitrum and ecosystem builders a way to participate in upside tied to growth.
Arbitrum has joined Global Dollar Network, the stablecoin alliance led by Paxos, according to CoinDesk. Paxos-issued USDG went live on Arbitrum on Tuesday.
The integration spans trading, lending, and payments. Partners named in the rollout include Fluid, Morpho, GMX, Maple, Li.Fi, Gauntlet, Steakhouse, LayerZero, and Kraken. Uniswap and Fhenix will be added later.
USDG and the alliance structure
USDG is issued by Paxos and backed by U.S. dollar reserves on a 1:1 basis. It has more than $3 billion in circulation across networks. Global Dollar Network has more than 150 partners, including Robinhood, Kraken, Mastercard, and OKX.
The network’s model distributes revenue generated from USDG reserves to partners that help drive adoption, rather than leaving that revenue solely with the issuer.
What this changes for Arbitrum
Arbitrum currently has about $3.8 billion in stablecoins on its network, and roughly 60% of that total is Circle’s USDC, the report said. Before this, Arbitrum did not directly share in reserve revenue tied to those tokens.
Brendan Ma, head of investment strategy at the Arbitrum Foundation, said USDG gives Arbitrum and ecosystem builders a way to share in the benefits of growth.
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